A three-story Newport Coast home once listed at $10.9 million and touted as "an incredible bargain" has been sold in a short sale for $6.5 million.

The deal is the highest amount for a short sale in Orange County in the past two years, said Steve Spiro of Asset Liquidators, the listing agent.

The house, at 2 Premiere Point, is on nearly three-quarters of an acre with unobstructed views of the Pacific Ocean and the Pelican Hill golf course. The 9,800-square-foot house has seven bedrooms and seven bathrooms, along with a gourmet kitchen, large wine cellar, swimming pool and spa.

The seller is an engineer and had the home built to high standards, Spiro said in the listing. It previously had been in the process of foreclosure.

The property received several full-price offers at the $6.5 million asking price, Spiro said.

The buyer's agent was Jun Yang at Realty One Group.

The house sold for the eighth-highest amount in the Newport Coast area this year, Spiro said.

No. 1 was a 12,230-square-foot house in Crystal Cove that was a standard sale; that property sold for $13.1 million.

The priciest residential short sale listed in Orange County now is 58 Shoreridge in Newport Coast. That home is for sale at $5.58 million, the multiple listing service shows.

An aerial view of the ocean-view house at 2 Premiere Point in Newport Coast. BING MAPS
Part of the exterior of the nearly 10,000-square foot home PHOTO COURTESY OF STEVE SPIRO
The swimming pool at 2 Premiere Point in Newport Coast PHOTO COURTESY OF STEVE SPIRO

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